European stocks are heading for a higher open on Thursday after the Bank of England stepped in to calm the markets.
Wells Fargo's Chris Harvey expects stocks to continue their upward move.
As the cost of capital rises and prices hover near record highs, the consensus is increasingly coming to believe that a Fed-induced recession is unavoidable, Harvey said. The 10-year Treasury yield last dropped 23 basis points to 3.733%, or the most it's dropped since 2020.
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